L-3 Buys Boeing Unit

ST. LOUIS, Nov. 22 -- Boeing announced today the divestiture of Torrance, Calif.-based Boeing Electron Dynamic Devices Inc. (EDD), a supplier of space and defense products, to L-3 Communications for an undisclosed amount.

After the transaction, EDD will continue to provide Boeing with satellite components and other products and services. The divestiture includes the sale of five of EDD's six product lines: linearized traveling wave tube amplifiers, space-traveling wave tubes, military traveling wave tubes, passive microwave devices and electric propulsion. Boeing will retain the power electronics group of EDD as part of Boeing Satellite Systems. The group is a large component manufacturer of power systems for satellite payloads and buses.

"The sale of EDD is aligned with our long-term strategic focus as a lead systems integrator," said Roger Roberts, senior vice president of Space and Intelligence Systems. "The divestiture of EDD will enable Boeing to continue to offer premier satellite systems solutions to our customers, while preserving our relationship with EDD and our ability to leverage its capabilities to meet our customers' requirements."

Frank C. Lanza, chairman and chief executive officer of L-3 Communications, said: "The skill and expertise of the employees of EDD will enhance our ability to produce a range of components to the satellite industry. We look forward to working with EDD's management team to continue to provide high quality, state-of-the-art components that meet the requirements of customers in the aerospace markets."

For more information, visit: www.boeing.com